TrustSwap: Legitimizing ICOs
Updated: Dec 16, 2021
Investing in blockchain projects is risky. Investing in them when they’re brand new is even riskier. Understanding the tokenomics behind any crypto currency can take time and most investors either don’t have or refuse to spend that time. Initial Coin Offerings (ICOs) are happening daily. Some of them are scams like the Mando token and some of them, like Ethereum, have gone on to be mainstays in the blockchain space. Ethereum launched their ICO in 2014 in which Ethereum was sold to early investors at a price of around $3 per $ETH. Participating in the Ethereum ICO was leagues more profitable than participating in the Mando ICO. The main dilemma investors are faced with is ‘Who should I trust?’. In a space with little regulation and instant liquidity, how can an investor find trust in a new project? TrustSwap has created a solution only obvious in hindsight: a series of transparent programmable smart contracts that serve to protect both the token creators and investors.
TrustSwap uses three methods to ensure ICOs can happen fairly and with minimal trust between all parties. These methods are 1) locking liquidity, 2) vesting tokens, and 3) creating tokens through TrustSwap’s SmartMint dapp. All three of these TrustSwap functions are governed by audited smart contracts ensuring safety from exploits from intentional or unintentional coding errors in the smart contract code. Any use of TrustSwap’s smart contracts incurs a small fee that is distributed to both $SWAP stakers and the protocol itself. This ensures the longevity of the project while also decreasing the market supply of $SWAP by incentivizing $SWAP staking. According to TeamFinance, TrustSwap currently has 23 trillion dollars of locked liquidity value and 4 billion dollars in locked vesting tokens. These numbers make TrustSwap the project with the highest total locked value in the blockchain space.
Locking liquidity: Liquidity locking is done by token creators as a show of faith to their investors. The creators take a certain number of tokens from the total supply of tokens and put them into TrustSwap’s smart contract for a select number of days. This number can be selected by the token creator and is verifiable through TrustSwap’s TeamFinance website. The investor can then be sure that a certain number of tokens will not be for sale for the chosen amount of time. TrustSwap’s liquidity locking smart contract acts as an unalterable trusted middleman. The investor can then be sure that a pump and dump situation will not occur for the entirety of the liquidity locked time period.
Vesting Tokens: Token Vesting is done by token creators. Vesting refers to the release of tokens to certain investors or team members either at a pre-decided date or milestone. The token creator can work with early investors in deciding the rules for the token vesting smart contract and pick the number of tokens, the qualifications for release of those tokens, and who the recipients of those tokens are. All of these rules are set into code with TrustSwap’s token vesting smart contract and verifiable on TrustSwap’s TeamFinance website. Transparent vesting schedules ensure that later adopters of the token are safe from rug pulls or massive sell offs by developers or early investors.
SmartMint Tokens: Minting tokens through TrustSwap’s SmartMint is simple and easy. All code used for minting tokens on SmartMint is pre-audited and safe. SmartMint requires no coding experience whatsoever. SmartMint can currently be used to mint tokens on both the Ethereum and Binance smart chain mainnets and testnets. This token creation is as simple as picking the name, initial supply, and maximum supply of your token. You then get to choose if you’d like token minting, token burning, token transaction fee, and the rules around your ICO if you’d like to offer one. The optional ICO rules include a time span for the offer, a soft cap/goal which upon failure to reach returns ICO investors their initial funds, and a hard cap which ends the ICO upon realization.
Who is behind TrustSwap?
TrustSwap is run by Jeff Kirdeikis (CEO), Ivan Reif (CTO), and Ivan Anastassov (COO). All three of these individuals have extensive and impressive resumes in tech. Jeff Kirdeikis has been in the blockchain space since at least 2018 when he started the Bitcoin and Crypto Podcast. Ivan Reif is a long-time software engineer and started Zenzu, a blockchain development consulting and software development company in 2018. Ivan Anastassov has an extensive history in marketing and business development and is currently the managing director of Swappable, an NFT marketplace powered by TrustSwap.
TrustSwap is an entirely undervalued project. Utilization of one or more of TrustSwap’s features by developers removes much of the risk to investors and increases trust in both directions. But TrustSwap doesn’t just provide security to investors and developers, it also runs a launchpad where $SWAP stakers can participate in ICO’s directly. TrustSwap’s launchpad requires the user to stake 4000 $SWAP tokens to be eligible to participate in ICO’s. At the current price 4000 $SWAP would cost about $4,800. Where TrustSwap overtakes its competition is in its guaranteed allocation of ICO tokens to all eligible $SWAP stakers. TrustSwap has an average ICO gain of around 1000%. This is due to TrustSwap’s in-depth due diligence of potential ICO’s and their use of TrustSwap’s security features to ensure proper tokenomics and alignment of investor and developer incentives. Let’s take the blockchain project Opulous for example, they held their ICO through TrustSwap’s launchpad at a price of $0.05 per $OPUL. Now $OPUL is currently sitting at about $4.30. That means TrustSwap’s $SWAP stakers had the chance to participate in an ICO that would have netted them a return of around 8000%. Unfortunately, United States citizens and citizens of countries sanctioned by the United Nations are prohibited from participating in all TrustSwap ICO’s. Despite this fact TrustSwap continues to gain adoption and acquire locked value. $SWAP is currently priced at a discount and is bound to increase in price. TrustSwap is truly the most underrated DeFi project in this space.
Written by David Coryat, Crypto native and Analyst at Istari Capital LP.
This Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained in this report constitutes a solicitation, recommendation, endorsement, or offer by Istari or any third party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction. Please be advised that Istari Capital LP is invested in the project discussed in this article or in projects related to this article.